Hydropower Revenue to be Set Aside as Part of Stabilisation Fund

The revenue generated by the three major hydropower projects - Mangdechhu and Punatsangchhu I and II will be set aside as part of the government’s Stabilisation Fund.

This is to help maintain the country’s economic stability by managing the inflow of income from power exports and its related loans and grants.

The prime minister said the Stabilisation Fund is important. “By next year, Mangdechhu project is coming on line and then Punatsangchhu I and II,” Lyonchhen said.

“We don’t want the government to use all the money, so all the royalties from hydropower earnings would be deposited into the Stabilisation Fund.”

Dasho Tshering Tobgay added that the National Debt Policy has also been finalised. “This is also keeping our government under check. Right now, we are well within the limits.”

The prime minister also said that the service sectors in the country are doing better and must continue to diversify the economy. The government injected Nu 2.1bn in the Economic Stimulus Plan for improving the banking system.

“We encouraged businesses, especially small and cottage industries, and we did that mainly by encouraging the banks to lend to these sectors,” said the prime minister

“Within the Ministry of Finance, we have a department called the Department of Macroeconomic. They operate an early warning system to ensure that we are aware before we receive the warning signals, before our economy is struck with some trouble.”

According to the National Statistics Bureau’s recent report, Bhutan’s Gross Domestic Product last year grew by about Nu 17bn from 2015.

 

By Passang (This article has been edited for the Bhutan Times)

This article first appeared on BBS.

 

 

 

 


Related Posts

Entrepreneurship Course Equips Youth with Business Skills

More than 30 out of school youths are learning how to make banana bread, chips, fruit wine and cardamom tea at a basic...

Oct 15, 2017 15:21

Another Techpark in Bhutan by 2019

The Ministry of Information and Communications (MoIC) will establish another Techpark by 2019. This is geared towards...

Oct 17, 2017 09:38

Thimphu TechPark aims to attract foreign investment

The main mission of the company is to attract reputed IT/ITES companies from both within Bhutan and around the world to...

Oct 01, 2017 17:37

Royal Bhutan Helicopter Services Has Generated Profits And Served...

The RBHS was launched with the primary objective of providing services during medical emergencies and natural disasters...

Jul 14, 2018 14:23

White Button Mushroom Trial Cultivation A Success In Chukha,...

In April this year, four areas were identified in Darla (Tala), Chasilakha and Tsimalakha for the trial programme.

Jul 09, 2018 18:27

Bhutanese Couple From Bhur Starts Bonsai Business Using Local...

"Bonsai making is an art and it is quite addictive.”

Jul 04, 2018 14:48

Latest

News

Drukair Orders New Aircraft That's Equipped With Latest Visual Technology

The new ClearVision technology on the aircraft allows pilots to get a clear picture of the runway while landing the aircraft.

Jul 19, 2018 12:47

After 9 Years, The Amochhu Bridge In Bhutan Finally Opened On 14 July 2018

The driving distance between Phuentsholing and Samtse is now reduced to 57km from 81.2km

Jul 18, 2018 14:57

Features

Bhutan's climb to medicines safety

Pharmacovigilance is the science and activities relating to the detection, assessment, understanding and prevention of adverse drug...

Jul 17, 2018 14:31

11th Golden Youth Award Camp Aims To Inspire Bhutanese Youth To Excel Holistically

The camp’s theme ‘Celebrating Unity for Excellence’, is a pledge by the youth to be advocators and agents of peace, harmony and...

Jul 12, 2018 16:14

Sports

Future Of Bhutan’s Women Football Depends On The Development Of Local Coaches

The football coach of the national women’s team, Sung Jea Lee said that there is a need to train local coaches.

Jul 08, 2018 18:16

Bhutan’s Two Young Representatives Shared Their Unforgettable Experiences At The 2018 FIFA World Cup in Russia

Bhutan was represented by two students, Rigzin Tenzin, 12, from Gelephu and Kinley Deki Yangzom, 12, from Lobesa Lower Secondary School,...

Jun 30, 2018 14:06

Business

Royal Bhutan Helicopter Services Has Generated Profits And Served More Than 500 Tourists And Locals Since 2016

The RBHS was launched with the primary objective of providing services during medical emergencies and natural disasters and also for tourism...

Jul 14, 2018 14:23

White Button Mushroom Trial Cultivation A Success In Chukha, Bhutan

In April this year, four areas were identified in Darla (Tala), Chasilakha and Tsimalakha for the trial programme.

Jul 09, 2018 18:27

Travel

Heading To Haa, Bhutan For The Summer Festival? Here Are Some Culinary Delights You Must Not Miss!

Savour the most delectable cuisine from the province of Haa in Bhutan.

Jul 13, 2018 14:54

Rare Masked Dances - One Of The Unique Features Of The Kholong Tshechu (Brawl Festival) In Bhutan

“Other dances like the Pha-dong chham, Sangling Ngachham, and Terchham among others are not performed in any part of the country,” said...

Jul 03, 2018 14:44

Lifestyle

Suja – Bhutanese Butter Tea Infused With Happiness To Kickstart Your Day

Traditionally, Suja is made from tea leaves, water, salt and yak butter.

Jul 17, 2018 17:19

Bhutan Film Festival Held In Sikkim To Commemorate 50 Years Of Bhutan-India Friendship Ended With Colourful Traditional Dances

Bhutanese celebrities and Sikkim’s local artists performed various traditional and cultural performances at the festival.

Jul 15, 2018 14:32

Subscribe to our newsletter

Never miss out on new happenings and news stories!